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2/29/2012 10:51:29 PM
 
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Section 5: OPA Board Subject: Henny Youngman and OPA Msg# 822937
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Bill, for me it is pure rationalization to suggest it is ok for a restaurant to lose $200,000 a year on operations alone, an operation with no rent and no capital costs.
What amenities do you wish to add together? Is Recs and Parks an amenity? Is the police department an amenity? I might point out that the assessment currently includes an amount to recover over $500,000 of past overall operational losses. However, there are certainly many folks who feel the same as you. My guess is the vast majority of them are people fairly well off financially. OP is a diverse HOA, from an economic demographics standpoint. This is very unlike most HOAs. You are obviously not on the low end of OP economic demographic and probably don't care if the assessment is $900 or $1800, just so you can play your golf and have a drink at the YC when you come back from Florida. Perfectly understandable. From my perspective, I just believe the losses at golf and the YC represent failures of management, and those losses represent wasted money. |
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For reference, the above message is a reply to a message where: Joe, For operational losses alone (no capital) the golf and YC operations will cost association members about $500,000 in the current year Agreed, but everyone seems to forget that the Beach Club makes a profit of 388000 a year So just operational losses of 500000 less 388000 equals 112grand to the red divided by 8443 is 13.27 per lot or 1.10 per month. When it is all said and done Joe, aside from depreciation and capital costs, when you add all the ammenties together, do the ammenities net out a profit? If not , what is the loss? We all have to spend money on the ageing buildings If it is a complete teardown or a rebuild we have to spend money to fix up 40 years of neglect. Again my opinion but shared by many part timers by the way. Bill |
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OPA Board Meeting - Golf Clubhouse
11/23/2024 - 9:00 A.M. 3 days or less away! |
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OPA Board Meeting - Golf Clubhouse
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OPA Board Meeting - Golf Clubhouse
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